G20 to discuss IMF’s proposal at leaders’ summit in India

The G20 is set to discuss a proposal by the International Monetary Fund (IMF) and G20’s Financial Stability Board (FSB) on cryptocurrencies at the leaders’ summit this weekend in New Delhi.

The proposal on cryptocurrencies by the IMF and FSB has been submitted to participating countries and the host country, India, has also prepared a presidential note that will include the summary of the report.

The FSB, in July, published recommendations on cryptocurrencies on firms trading crypto assets after G20’s recommendation. IMF will add to those recommendations and produce a synthesis paper to help G20 countries frame rules.

Earlier this year, the IMF laid out a nine-point action plan for how countries should treat crypto assets, including a plea not to give cryptocurrencies such as bitcoin legal tender status.

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